The treasurer of unisyms company has accumulated the following budget

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The treasurer of Unisyms Company has accumulated the following budget information for the first two months of the coming year:

	March	April
Sales.	$450,000	$520,000
Manufacturing costs	290,000	350,000
Selling and administrative
expenses	41,400	46,400
Capital additions	250,000	—

The company expects to sell about 35% of its merchandise for cash. Of sales on account, 80% are expected to be collected in full in the month of the sale and the remainder in the month following the sale. One-fourth of the manufacturing costs are expected to be paid in the month in which they are incurred and the other three-fourths in the following month. Depreciation, insurance, and property taxes represent $6,400 of the probable monthly selling and administrative expenses. Insurance is paid in February and a $40,000 installment on income taxes is expected to be paid in April. Of the remainder of the selling and administrative expenses, one-half are expected to be paid in the month in which they are incurred and the balance in the following month. Capital additions of $250,000 are expected to be paid in March.

Current assets as of March 1 are composed of cash of $45,000 and accounts receivable of $51,000. Current liabilities as of March 1 are composed of accounts payable of $121,500 ($102,000 for materials purchases and $19,500 for operating expenses). Management desires to maintain a minimum cash balance of $20,000.

Prepare a monthly cash budget for March and April.

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Unisyms Company			Unisyms Company
Schedule of Collections from Sales			Cash Budget
For Two Months Ending April 30			For Two Months Ending April 30
	March	April		March	April
Cash Sales:	$157,500	$182,000	Estimated Cash receipts from:
			Cash Sales	$157,500	$182,000
Sales on Account:			Collections of accounts receivable	$285,000	$328,900
Collection from month prior sales	$51,000	$58,500	Total cash receipts	$442,500	$510,900
Collection from current month’s sales	$234,000	$270,400	Estimated cash payments for:
Total Sales on Account	$285,000	$328,900	Manufacturing costs	$174,500	$305,000
			Selling and administrative expenses	$37,000	$37,500
			Capital additions	$250,000
Unisyms Company			Note Payable
Schedule of Payments for Manufacturing Costs			Dividends
For Two Months Ending April 30			Income taxes		$40,000
	March	April	Total cash payments	$461,500	$382,500
Payments of prior month’s manufacturing costs	$102,000	$217,500	Cash increase (decrease)	($19,000)	$128,400
Payments of current month’s manufacturing costs	$72,500	$87,500	Cash balance at beginning of month	$45,000	$26,000
Total Payments	$174,500	$305,000	Cash balance at end of month	$26,000	$154,400
			Minimum cash balance	$20,000	$20,000
			Excess (deficiency)	$6,000	$134,400
Unisyms Company
Schedule of Payments for Selling & Admin Expenses
For Two Months Ending April 30
	March	April
Payments of prior month’s manufacturing costs	$19,500	$17,500
Payments of current month’s manufacturing costs	$17,500	$20,000
Total Payments	$37,000	$37,500


	March	April
Sales:	$450,000	$520,000
Manufacturing Costs:	$290,000	$350,000
Selling & Admin Expenses:	$41,400	$46,400
Capital Additions:	$250,000
Total Sales on Account:	$292,500	$338,000

March 1 Current Assets:
Cash:	$45,000
Accounts Receivable:	$51,000
March 1 Current Liabililities:
Accounts Payable:	$121,500
Materials Purchased:	$102,000
Operating Expenses:	$19,500

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July 1, 2023

41) The above figure shows the production possibility frontier for an economy. The point or points that are attainable and production efficient are

A) points B and C.

B) points A, B, and C.

C) point E.

D) points A, B, C, and D.

E) points A and D.

42) The above figure shows the production possibility frontier for an economy. The point or points that are attainable are

A) points B and C.

B) points A, B, and C.

C) point E.

D) points A, B, C, and D.

E) points A and D.

43) The above figure shows the production possibility frontier for an economy. The point or points that are NOT attainable are

A) points B and C.

B) points A, B, and C.

C) point E.

D) points A, B, C, and D.

E) points A and D.

44) In order for Ireland to grow more potatoes, wool production must decrease. This situation is an example of

A) producing at a point that lies beyond the PPF.

B) zero opportunity cost.

C) opportunity benefit.

D) a free lunch.

E) a tradeoff.

45) As we move along the production possibilities frontier,

A) the production of one good increases as the production of the other good decreases.

B) the possibilities of tradeoffs diminish.

C) a tradeoff is not possible because nations need all goods.

D) more of both goods can be produced.

E) less of both goods can be produced.

46) Which of the following statements is correct?

A) If capital is idle, the economy is producing at its full potential.

B) The production possibilities frontier shows that there are no limits to production.

C) A tradeoff is a limit that forces an exchange or a substitution of one thing for something else.

D) Any point on or within the PPF is production efficient.

E) None of the above answers is correct.

47) When a nation is producing on its production possibilities frontier, if more resources are used to produce one good, then the production of other goods

A) must increase.

B) must decrease.

C) must remain the same.

D) must change, but they might increase or decrease.

E) might increase if the nation can produce more efficiently.

48) The negative slope of the production possibilities frontier represents the idea

A) that free lunches are possible.

B) of tradeoffs, that in order to produce more of one good, the nation must produce less of another.

C) of unemployment.

D) of inefficient production.

E) that prices rise as less is produced.

49) A movement from one point on a production possibilities frontier to another represents

A) a tradeoff.

B) a free lunch.

C) full employment of labor but not capital.

D) unemployment.

E) an advance in technology.

50) The saying "There's no such thing as a free lunch," applies

A) when there is some unemployment.

B) on the production possibilities frontier.

C) to unattainable combinations of goods and services.

D) when more of one good can be produced without decreasing production of another.

E) at all points inside the PPF.

July 1, 2023

31) Steve, an HR supervisor at APEX construction, has recently noticed a shortage of skilled workers due to a building boom in the area. He must find new workers quickly because it is uncertain how long the boom will last. He decides to hire nontraditional laborers. The most likely disadvantage of using nontraditional laborers is the:

A) high costs of making reasonable accommodations.

B) additional training that will be necessary.

C) extensive involvement of the EEOC.

D) high advertising costs.

32) Which of the following is primarily associated with hiring external candidates?

A) Lowers training costs

B) Provides new ideas and perspectives

C) Decreases recruitment time and expense

D) Motivates other workers to strive for advancement

33) One of the advantages of promoting internal candidates is:

A) rejuvenating work units.

B) reducing training costs.

C) fostering innovative ideas.

D) reducing employee turnover.

34) Tatiana needs to hire a line manager and has a very small recruiting budget. The firm's current employees don't feel they have many advancement opportunities. It would be best for Tatiana to recruit:

A) internally.

B) externally.

C) former military members.

D) nontraditional workers.

35) Which of the following is most likely a true statement about recruiting?

A) Internal recruiting enhances organizational communication.

B) External recruiting fills positions quickly and inexpensively.

C) External recruiting promotes innovation and new perspectives.

D) Internal recruiting requires developing new organizational policies.

36) Which of the following is most likely a true statement about recruiting employees in a protected class?

A) The recruiting message should be targeted to specific minority groups.

B) All private sector firms are legally required to have an affirmative action policy.

C) Using media that focuses on minorities is an effective way to recruit protected group members.

D) Intense minority competition for jobs ensures a large pool of qualified and motivated applicants.

37) Which of the following must have written affirmative action plans?

A) Non-profit groups

B) Government contractors

C) Privately-held corporations

D) Publicly-held corporations

38) In human resource planning the answer to the question, "How many candidates should we recruit?":

A) is based on the firm's affirmative action plan.

B) comes from the yield ratio calculated in the forecast.

C) is directed by EEO consideration and the size of the labor pool.

D) depends on the state of the labor pool and the current economy.

39) The offer-to-acceptance ratio at Central Manufacturing is 6:1. How many offers will the firm need to make in order to fill 80 positions?

A) 120

B) 240

C) 480

D) 540

40) After an extensive recruiting effort, your company has contacted 225 interested individuals. At the application deadline, you have received 75 applications. What is your contact-to-applicant ratio?